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Wednesday, November 01, 2006

Thanks to 321gold.com for reprinting Richard Russell's recent comments on the ongoing dollar devaluation (through inflation) and the importance of gold. Here's an excerpt from the October 30 edition of Richard's Remarks:A weakening dollar represents a "wake-up call" for gold. Most people don't realize it, but rising gold is a form of dollar-devaluation. It's not an official devaluation, I call it a "free market devaluation".Question -- Why does the US government continue to keep the official price of gold at $42.22 when the free market price for gold is over $600?Answer -- This is the government's way of denying that the dollar has been greatly devalued. It's the government's method of keeping its citizens "stupid" and unaware of what's been happening to its money.Be sure to read the whole thing!